Before someone misconstrues this, I’m not against raising minimum wage BUT I don’t believe people who paint raising minimum wage as some fantastic cure all for in work poverty.
Wages go up, so businesses put their prices up- both because they need to and just because they can. Wages go up, so rents go up as well. Minimum wage probably has one big jump, and then goes up in small increments year on year. Rent and prices go up faster. And 10 years down the line, everyone’s right back where they started.
If you are going to have a system with money, I think the first step is to put price caps on essentials- like housing, food, clothes etc. Rents should be capped. Price increases should be capped. Utilities should ideally be nationalised and set at a certain rate.
No doubt someone will come along and say “where’s the profit”- but that’s the point. As long as there’s a system in place that profits from people’s basic needs, there will people living in poverty who can’t afford all of their basic needs.
I mean, I’d probably advocate for a non-monetary system over this, still, but if you’re going to try and paper over the cracks, I truly believe it has to come from both ends. Just giving people more money isn’t enough, because the money can reduce in value pretty damn quickly.